In Flash CS5 there’s a new file format in the house that it’s called .XFL that is a new XML based format that allows You to exchange and work on files more easy, how to use it ? just save your file as .xfl in this way all your assets and properties are not packaged in a .fla file instead they will be saved in a folder structure that you can open and modify without the Flash ide, the properties of the document and graphic elements of the library are exported in XML files and can be edited from any text editor and modify its properties. Even Actionscript code of the frames is exported.

I see this feature as a very neat one that will let us have more control over our Flash work and expands the possibilities for new types of workflow.